IMARC Group, a leading market research company, has recently releases report titled “GCC Jewelry Market Report by Product (Necklace, Ring, Earrings, Bracelets, and Others), Material (Gold, Platinum, Diamond, and Others), and Country 2024-2032”. The study provides a detailed analysis of the industry, including the GCC jewelry market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How Big is the GCC Jewelry Market?
The GCC jewelry market size is projected to exhibit a growth rate (CAGR) of 3.1% during 2024-2032.
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GCC Jewelry Market Trends and Drivers:
The cultural significance of jewelry and the high disposable income of consumers in these countries are the factors responsible for the growth of the GCC jewelry market. Additionally, the demand for jewelry in GCC is escalating as there is a high use of jewelry in weddings, celebrations, and as a form of investment, which is fueling the market. Besides this, the market is further bolstered by the affluent consumer base in GCC countries such as Saudi Arabia, the UAE, and Qatar, which are particularly drawn to luxury jewelry pieces and are seen as symbols of status and wealth. Moreover, the retail landscape of the region is robust, with numerous luxury shopping destinations and boutiques that attract not only local but also international tourists, which is contributing to the expansion of the market.
The GCC jewelry market is being shaped by trends in fashion and an increasing preference for exclusive and customized jewelry designs, which is further augmenting the market. In addition to this, consumers are seeking unique pieces that reflect personal style and sophistication, leading to a rise in demand for bespoke and designer jewelry offerings, thereby stimulating the market. Furthermore, there is a growing awareness and need for ethically sourced and sustainable jewelry, influencing the purchasing decisions of consumers, which is acting as another growth-inducing factor. Apart from this, the young, tech-savvy population is increasingly turning to online platforms for their jewelry purchases, driven by the convenience and broader selection available online, which is anticipated to drive the GCC jewelry market in the coming years.
GCC Jewelry Market Report Segmentation:
The report is organized into distinct sections as follows:
By Product:
- Necklace
- Ring
- Earrings
- Bracelets
- Others
On the basis of product, the GCC jewelry market has been divided into necklace, ring, earrings, bracelets, and others.
By Material:
- Gold
- Platinum
- Diamond
- Others
Based on the material, the market has been divided into gold, platinum, diamond, and others.
Country Insights:
- Saudi Arabia
- UAE
- Qatar
- Bahrain
- Kuwait
- Oman
On the basis of country, the market has been divided into Saudi Arabia, the UAE, Qatar, Bahrain, Kuwait, and Oman.
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Other Key Points Covered in the Report:
- COVID-19 Impact
- Porters Five Forces Analysis
- Value Chain Analysis
- Strategic Recommendations
If you need specific information that is not currently within the scope of the report, we will provide it to you as a part of the customization.
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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.
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